• 6 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes Saudi Fund Wants to Take Tesla Private?
  • 17 minutes Why hydrogen economics is does not work
  • 2 hours Starvation, horror in Venezuela
  • 1 hour The EU Loses The Principles On Which It Was Built
  • 22 mins Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 1 hour Crude Price going to $62.50
  • 17 hours Anyone Worried About the Lira Dragging EVERYTHING Else Down?
  • 1 hour WSJ *still* refuses to acknowledge U.S. Shale Oil industry's horrible economics and debts
  • 11 hours Chinese EV Startup Nio Files for $1.8 billion IPO
  • 22 hours Oil prices---Tug of War: Sanctions vs. Trade War
  • 22 hours Correlation does not equal causation, but they do tend to tango on occasion
  • 22 hours Russia retaliate: Our Response to U.S. Sanctions Will Be Precise And Painful
  • 1 day California Solar Mandate Based on False Facts
  • 1 day WTI @ 69.33 headed for $70s - $80s end of August
  • 24 hours Monsanto hit by $289 Million for cancerous weedkiller
Alt Text

Did These Mining Giants Just Confirm The Next Gold Frontier?

After Ecuador’s President removed a…

Alt Text

Expect Mine Closures In This Key Gold Mining Nation

Major gold mining nation South…

Alt Text

This Key Gold Producer Sees Its Production Slump

Africa’s second gold producer Ghana…

Mad Hedge Fund Trader

Mad Hedge Fund Trader

John Thomas, The Mad Hedge Fund Trader is one of today's most successful Hedge Fund Managers and a 40 year veteran of the financial markets.…

More Info

Trending Discussions

More Reasons to Buy Gold

As a four decade observer of the global financial markets, I often see a situation where the higher a price goes, the more reasons for it to rise come out of the woodwork. That is happening with gold now.

Yesterday, I learned that Anglo Gold Ashanti is spending $1.375 billion to take its gold hedges off. The obvious implication here is that they have studied the long term supply and demand for the lustrous product, and believe that the downside risk no longer exists. When an organization with far more massive resources than I reaches such a conclusion, should I follow suit? Barrack Gold (ABX) did the same a year ago, and the move was one of the sparks that ignited the jump in the yellow metal from $950 to $1,200.

And then I read in the Financial Times today that central banks are planning to buy 15 tonnes of the barbarous relic in 2010, flipping them from net sellers to net buyers for the first time in 20 years. For the past decade, central banks averaged 442 tonnes/year in sales. Gone are the perpetual rumors of the elusive 400 tonne IMF sale that overhung the market. It seems the list of emerging market central banks loading up on gold is growing by the day. I think the outlook for the value of my gold teeth is looking pretty good these days.

By. Mad Hedge Fund Trader




Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News